GoDaddy Inc. (NYSE:GDDY) Stake Reduced by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its holdings in shares of GoDaddy Inc. (NYSE:GDDY - Free Report) by 15.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,129 shares of the technology company's stock after selling 29,146 shares during the period. Teacher Retirement System of Texas owned about 0.11% of GoDaddy worth $29,206,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Advisors Capital Management LLC increased its stake in shares of GoDaddy by 0.9% in the fourth quarter. Advisors Capital Management LLC now owns 6,197 shares of the technology company's stock worth $1,223,000 after buying an additional 55 shares during the last quarter. BNP Paribas increased its stake in shares of GoDaddy by 2.9% in the fourth quarter. BNP Paribas now owns 2,111 shares of the technology company's stock worth $417,000 after buying an additional 59 shares during the last quarter. City Holding Co. increased its stake in shares of GoDaddy by 30.0% in the first quarter. City Holding Co. now owns 260 shares of the technology company's stock worth $47,000 after buying an additional 60 shares during the last quarter. NorthCrest Asset Manangement LLC increased its stake in shares of GoDaddy by 0.8% in the first quarter. NorthCrest Asset Manangement LLC now owns 7,967 shares of the technology company's stock worth $1,435,000 after buying an additional 67 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its stake in shares of GoDaddy by 4.1% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,793 shares of the technology company's stock worth $344,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 90.28% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GDDY. Benchmark restated a "buy" rating on shares of GoDaddy in a research note on Monday, April 28th. Barclays dropped their price target on shares of GoDaddy from $243.00 to $235.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Morgan Stanley lowered their target price on shares of GoDaddy from $228.00 to $206.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Piper Sandler boosted their target price on shares of GoDaddy from $177.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of GoDaddy from $231.00 to $240.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $214.86.

Insiders Place Their Bets

In related news, CEO Amanpal Singh Bhutani sold 6,000 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $176.93, for a total value of $1,061,580.00. Following the completion of the sale, the chief executive officer owned 425,015 shares of the company's stock, valued at $75,197,903.95. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brian Sharples sold 500 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $179.68, for a total transaction of $89,840.00. Following the completion of the sale, the director directly owned 21,957 shares of the company's stock, valued at $3,945,233.76. The trade was a 2.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,757 shares of company stock valued at $12,246,080. Corporate insiders own 0.61% of the company's stock.

GoDaddy Stock Performance

Shares of GDDY traded up $1.33 during midday trading on Monday, hitting $178.65. 1,470,144 shares of the stock traded hands, compared to its average volume of 1,333,437. GoDaddy Inc. has a 1-year low of $140.11 and a 1-year high of $216.00. The firm has a market capitalization of $25.46 billion, a PE ratio of 34.36 and a beta of 1.05. The company has a debt-to-equity ratio of 18.91, a quick ratio of 0.56 and a current ratio of 0.56. The business's 50 day moving average price is $181.49 and its two-hundred day moving average price is $185.62.

GoDaddy (NYSE:GDDY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.08). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. GoDaddy had a net margin of 16.20% and a return on equity of 211.09%. The business's revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $2.76 EPS. Equities research analysts predict that GoDaddy Inc. will post 6.63 EPS for the current fiscal year.

GoDaddy Company Profile

GoDaddy Inc engages in the design and development of cloud-based products in the United States and internationally. It operates through two segments: Applications and Commerce, and Core Platform. The Applications and Commerce segment provides applications products, including Websites + Marketing, a mobile-optimized online tool that enables customers to build websites and e-commerce enabled online stores; and Managed WordPress, a streamlined and optimized website building that allows customers to easily build and manage a faster WordPress site; Managed WooCommerce Stores to sell anything and anywhere online; and marketing tools and services, such as GoDaddy Studio mobile application, search engine optimization, Meta and Google My Business, and email and social media marketing designed to help businesses acquire and engage customers and create content.